Grupo Solidario Flor De Cayo Blanco Group

Update on Grupo Solidario Flor De Cayo Blanco Group

The “Flor de Cayo Blanco” communal bank has two members (Omar and Iris) who live in the village of Cayo Blanco and carry out different economic activities.

The group coordinator is Omar Antonio A., 44. His family consists of his wife and his three children. Omar is a pork merchant. He started his business when he got married because he had to leave his parents’ house and had to find a way to support his wife. He started buying pigs to butcher and sell the meat to grocery stores and butcheries.

One of the advantages of the business is that it is very profitable, and this has allowed him to support his family, although with many financial limitations. One of the disadvantages is that the market is saturated with people who do the same kind of work and some of them, in order to sell their products quickly, do so at such low prices that he is unable to compete.

With the support this loan gives him he hopes to have sufficient profits to support his household and to buy school supplies, uniforms and shoes that his children need to go to school.

His fellow group member, Iris, sells snacks. She is married and has two children.

Previous Loan Details

The “Flor de Cayo Blanco” communal bank has two members (Omar and Iris) who live in the village of Cayo Blanco and carry out different economic activities.
The group coordinator is Omar Antonio A., 42. His family consists of his wife and his three children who are 19, 17, and 16 years old.…
More from Grupo Solidario Flor De Cayo Blanco Group's previous loan »

Additional Information

About FAMA:

Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

This photo was used before for a previous loan for Grupo Solidario Flor De Cayo Blanco Group. It was first posted on Kiva on Sep, 2010. Learn More

Photo from previous loan

Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.

Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.